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The Lean Startup
Model for Healthcare
Day 2, 5th November 2015, Morning session 10.00am-10.30am
Matrix Level 4, Breakthrough+Discovery Theatres
Hugh Mason, Co-founder and CEO, JFDI.Asia
hugh@jfdi.asia @hughmason
79 Ayer Rajah Crescent #03-01 Singapore 139995
With thanks to:
JFDI Clients & Colleagues, Stuart Smith and Alex Danco for inspiration.
This presentation includes numerous borrowed graphics, to which I hope I have
included attribution. If not my apologies - please allow me to correct any omissions
Coming Up
Introducing JFDI
1. Why Lean Startup Matters for Healthcare
2. How Lean Startup Does and Doesn’t Work
3. What are Some Opportunities for Singapore?
Suggestion: Q&A at panel 10:45
The Lean Startup Model for Healthcare
The Lean Startup Model for Healthcare
● First ASEAN startup accelerator, backed
by IIPL, Fenox VC, Family Offices, HNWI’s
● Accelerator has attracted over 2,000
startup teams from 80+ countries.
● Pre-Accelerator has supported 250 teams
comprising 900 people via MOOC
● USD2m pre-seed capital deployed into
69 startups, >50% raised median
USD550k
● No exits yet but 48% IRR (unrealized).
● Over 300 jobs created, >50% of which are
in Singapore and >50% filled by SCPRs.
● Team of 16 split Singapore-Philippines.
● Pioneered Lean Startup and disciplined
JFDI.Asia
The Lean Startup Model for Healthcare
1
Why Lean Startup Matters
for Healthcare
Macrotrend 1 - Demographics
Macrotrend 2 - 42% of internet users are in Asia
Macrotrend 3 - Weightless Giants
Macrotrend 4 - The Service Dominant Mindset
Macrotrend 5 - Unbundling
Macrotrend 6 - New Innovation Frameworks
“Plan & Perfect v. Launch & Learn”
“Plan & Perfect” - Vision Based Innovation
“Launch & Learn v. Plan & Perfect”
“Launch & Learn v. Plan & Perfect”Discovery Based Innovation“Launch & Learn” - Discovery Based Innovation
● Design Thinking
● Lean Startup
● Agile Methods
Problem
Customer
Discovery
Problem-
Solution
Fit
Market-
Solution Fit
Individuals
Teams
Problem
Statement
Minimum
Viable
Prototype
Traction
Seed Stage
Startup
Series A
Stage SME
Startup Weekends, Hackathons
Product Development
Customer Discovery
Growth Hacking
Demo Day
“A startup is a temporary organization designed to search
for a repeatable and scalable business model”
- Steve Blank
Two of the Risks in Innovation
MarketRisk-Shoulditbedone?
Technology Risk - Could it be done?LOW HIGH
HIGH
Business Model Innovation
MarketRisk-Shoulditbedone?
Technology Risk - Could it be done?LOW HIGH
HIGH
MarketRisk-Shoulditbedone?
Technology Risk - Could it be done?LOW HIGH
HIGH
Tech2Market - Vision Driven
MarketRisk-Shoulditbedone?
Technology Risk - Could it be done?LOW HIGH
HIGH
Tech2Market - Vision Driven
“Teams that pursued traditional methods of
starting a company had an 18% success
rate in receiving SBIR Phase I funding”
(Blank 2013)
MarketRisk-Shoulditbedone?
Technology Risk - Could it be done?LOW HIGH
HIGH
Market2Tech - Discovery Driven
“Teams that … took the Lean Launchpad
class ... had a 60% success rate”
(Blank 2013)
2
How Lean Startup
Does and Doesn’t Work
“Launch & Learn v. Plan & Perfect”
The Lean Startup Model for Healthcare
The Lean Startup Model for Healthcare
The Lean Startup Model for Healthcare
← Solution
← Value Proposition
Horses?
Faster?
How the 19th Century ‘Bundled’ Mobility
“If I’d asked people what they wanted,
they would have said: more hospitals”
The Lean Startup Model for Healthcare
3
What are the Opportunities
for Singapore?
The Lean Startup Model for Healthcare
“The assumption that the pursuit of drugs, diagnostics,
devices and digital health is all about the execution of the
science is in most cases a mistake.” (Blank 2013)
The Lean Startup Model for Healthcare
Conclusions - 1
• Healthcare is a business
• Business model innovation matters as much as science.
• We can choose how we bundle components of
healthcare.
• New frameworks for innovation let us test critical
hypotheses relating to regulation, customers and funding
before we commit significant resources to science.
Conclusions - 2
The way forward is to:
• assess regulatory risk before we design and build.
• gather data essential to understand customer purchases
before we do the science.
• define clinical utility now, before we spend millions of
dollars.
• identify financing vehicles before we need them.

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The Lean Startup Model for Healthcare

  • 1. The Lean Startup Model for Healthcare Day 2, 5th November 2015, Morning session 10.00am-10.30am Matrix Level 4, Breakthrough+Discovery Theatres Hugh Mason, Co-founder and CEO, JFDI.Asia hugh@jfdi.asia @hughmason 79 Ayer Rajah Crescent #03-01 Singapore 139995 With thanks to: JFDI Clients & Colleagues, Stuart Smith and Alex Danco for inspiration. This presentation includes numerous borrowed graphics, to which I hope I have included attribution. If not my apologies - please allow me to correct any omissions
  • 2. Coming Up Introducing JFDI 1. Why Lean Startup Matters for Healthcare 2. How Lean Startup Does and Doesn’t Work 3. What are Some Opportunities for Singapore? Suggestion: Q&A at panel 10:45
  • 5. ● First ASEAN startup accelerator, backed by IIPL, Fenox VC, Family Offices, HNWI’s ● Accelerator has attracted over 2,000 startup teams from 80+ countries. ● Pre-Accelerator has supported 250 teams comprising 900 people via MOOC ● USD2m pre-seed capital deployed into 69 startups, >50% raised median USD550k ● No exits yet but 48% IRR (unrealized). ● Over 300 jobs created, >50% of which are in Singapore and >50% filled by SCPRs. ● Team of 16 split Singapore-Philippines. ● Pioneered Lean Startup and disciplined JFDI.Asia
  • 7. 1 Why Lean Startup Matters for Healthcare
  • 8. Macrotrend 1 - Demographics
  • 9. Macrotrend 2 - 42% of internet users are in Asia
  • 10. Macrotrend 3 - Weightless Giants
  • 11. Macrotrend 4 - The Service Dominant Mindset
  • 12. Macrotrend 5 - Unbundling
  • 13. Macrotrend 6 - New Innovation Frameworks “Plan & Perfect v. Launch & Learn”
  • 14. “Plan & Perfect” - Vision Based Innovation
  • 15. “Launch & Learn v. Plan & Perfect”
  • 16. “Launch & Learn v. Plan & Perfect”Discovery Based Innovation“Launch & Learn” - Discovery Based Innovation ● Design Thinking ● Lean Startup ● Agile Methods
  • 17. Problem Customer Discovery Problem- Solution Fit Market- Solution Fit Individuals Teams Problem Statement Minimum Viable Prototype Traction Seed Stage Startup Series A Stage SME Startup Weekends, Hackathons Product Development Customer Discovery Growth Hacking Demo Day “A startup is a temporary organization designed to search for a repeatable and scalable business model” - Steve Blank
  • 18. Two of the Risks in Innovation MarketRisk-Shoulditbedone? Technology Risk - Could it be done?LOW HIGH HIGH
  • 20. MarketRisk-Shoulditbedone? Technology Risk - Could it be done?LOW HIGH HIGH Tech2Market - Vision Driven
  • 21. MarketRisk-Shoulditbedone? Technology Risk - Could it be done?LOW HIGH HIGH Tech2Market - Vision Driven “Teams that pursued traditional methods of starting a company had an 18% success rate in receiving SBIR Phase I funding” (Blank 2013)
  • 22. MarketRisk-Shoulditbedone? Technology Risk - Could it be done?LOW HIGH HIGH Market2Tech - Discovery Driven “Teams that … took the Lean Launchpad class ... had a 60% success rate” (Blank 2013)
  • 23. 2 How Lean Startup Does and Doesn’t Work
  • 24. “Launch & Learn v. Plan & Perfect”
  • 28. ← Solution ← Value Proposition Horses? Faster?
  • 29. How the 19th Century ‘Bundled’ Mobility
  • 30. “If I’d asked people what they wanted, they would have said: more hospitals”
  • 32. 3 What are the Opportunities for Singapore?
  • 34. “The assumption that the pursuit of drugs, diagnostics, devices and digital health is all about the execution of the science is in most cases a mistake.” (Blank 2013)
  • 36. Conclusions - 1 • Healthcare is a business • Business model innovation matters as much as science. • We can choose how we bundle components of healthcare. • New frameworks for innovation let us test critical hypotheses relating to regulation, customers and funding before we commit significant resources to science.
  • 37. Conclusions - 2 The way forward is to: • assess regulatory risk before we design and build. • gather data essential to understand customer purchases before we do the science. • define clinical utility now, before we spend millions of dollars. • identify financing vehicles before we need them.